Morley Fund Management (‘Morley’), one of the UK’s largest fund managers, has today opened a representative office in Milan, Italy. The move into Italy marks a further progression of Morley’s focused European strategy.
Morley Fund Management (‘Morley’), one of the UK’s largest fund managers, has today opened a representative office in Milan, Italy. The move into Italy marks a further progression of Morley’s focused European strategy.
In Italy, Morley will be exploring the extension of its UK business model by concentrating on opportunities in the institutional and third-party distribution market, as well as leveraging the existing distribution capabilities of its parent company Aviva.
Morley will also be looking to promote funds from its Privilege Portfolio range, a Luxembourg-based SICAV. Privilege Portfolio is already promoted in 15 countries across Europe, including Spain, Germany and the Nordic region. Key products include a comprehensive range of SRI funds, as well as European equities, bonds and property funds.
The Italian mutual fund industry has grown significantly over the last decade, with assets under management now totalling €569 billion and with 59% of mutual fund inflows derived from bank distribution channels.
Commenting on the opening of the office, Raoul Bachmann, Managing Director, Continental European Retail, said: “This move is an important step in our strategy to develop a continental European business in a small number of key markets. Italy was our first choice as it is one of the fastest growing and most dynamic mutual fund markets in Europe.”
The office is headed up by Massimiliano Guidi, as Director of Italy, and is supported by a team of three relationship executives.
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For further information please contact:
Fiona Baker 020 7809 8617
Head of Corporate Comms, Morley Fund Management
Notes to Editors
Morley Fund Management
Morley Fund Management (‘Morley’) is an independently managed, London based, asset management business with over Ł105 billion under management (as at 31.12.02). It actively manages a diverse range of asset classes and has investment management operations in London, Tokyo and Singapore and an associate office in Boston*.
Morley is a wholly owned subsidiary of the Aviva Group and manages both institutional and retail funds under the Morley brand. It also acts as investment manager for a range of retail investment funds, marketed in the UK by Norwich Union, and international funds marketed under the Privilege Portfolio brand.
Awards
Fund Manager of the Year - Pensions Week Awards 2002
Specialist Manager of the Year - UK Pensions Awards 2002
Insurance Fund Manager of the Year (awarded to Norwich Union) - Standard and Poor’s 2002
Sustainable and Ethical Investment and Asset Management Award - Liveable City Awards 2002
*Norwich Union Investment Management, an Aviva Group company
Further information about Morley Fund Management can be found at www.morleyfm.com
Issued by Morley Fund Management Limited.
Morley Fund Management is a business name of Morley Fund Management Limited, registered in England No. 1151805 and Morley Investment Services Limited, registered in England No. 1973412. Both are members of the Norwich Union Marketing Group, members of which are regulated in the UK by the Financial Services Authority for life assurance, pensions and investments. Morley Investment Services Limited is a member of the Investment Management Association. Registered Offices: No. 1 Poultry, London EC2R 8EJ. Both are Aviva companies.
For correspondence please contact us at Morley Fund Management, No. 1 Poultry, London EC2R 8EJ.